The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Venezuela's IT market has contracted sharply in US dollar terms as a result of the severity of
the economic crisis - with the new exchange rate regime and spiralling inflation contributing to product
shortages and price rises far in excess of local wage growth. With economic activity losing even more
momentum in 2016 and households hit by shortages of even basic goods there will be no short term
resumption of IT spending growth in USD terms. The nominal growth rate will however be sustained by
domestic inflation, where we forecast an IT spending CAGR of 64.6% over 2016-2020.
? Computer Hardware Sales: From VEF12.0bn in 2016 to VEF83.4bn in 2020, at a CAGR of 62.5%.
Reduced demand for both imports and domestically-assembled PCs as price rises rapidly eroded
? Software Sales: From VEF3.8bn in 2016 to VEF30.3bn in 2020, at a CAGR of 67.8%. All but essential
spending deferred in the short term, and over the medium term brain drain, piracy and weak enterprise
investment will all be drags on spending growth.
? IT Services Sales: From VEF3.4bn in 2016 to VEF27.4bn in 2020, at CAGR of 68.2%. An oil-centric
economy means the IT services segment is underdeveloped, and while cost saving and flexibility offered
should be positives; the outlook is also weak in this segment due to the depth of the crisis.